Regional Water: FY2020 Nonprofit Profile & Form 990 (EIN 42-1089032)

Revenue by fiscal year
FY2020	$3.1M
FY2021	$3.8M
FY2022	$3.3M
FY2023	$4.8M
FY2024	$4.2M
FY2025	$8.8M

Expenses by fiscal year
FY2020	$2.8M
FY2021	$3.0M
FY2022	$3.4M
FY2023	$3.3M
FY2024	$3.6M
FY2025	$4.1M

Net assets by fiscal year
FY2020	$9.8M
FY2021	$10.5M
FY2022	$10.4M
FY2023	$11.9M
FY2024	$12.5M
FY2025	$17.2M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 1977.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

86 cents of each dollar spent went to programs.

86%

14%

Program services 86% · $2.4M Management & general 14% · $393K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation

Charles Assman

Vice Preside

$0Pt VII · Sec A

Steve Barratt

President

$0Pt VII · Sec A

Larry Klein

Member

$0Pt VII · Sec A

Richard Lee

Secretary

$0Pt VII · Sec A

Jeff Walton

Treasurer

$0Pt VII · Sec A

See Regional Water executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Regional Water is a member-serving organization based in Avoca, IA.

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2 programs · $2.4M · in their own filed words · FY2020

01

Water processor serving rural communities

$2.4Mprogram expense

02

Wastewater system provided to rural community

Pt IX · col B

By the numbers

The FY2020 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$3.1M

Ln 12

Fees for servicesLn 2g$2.8M

Gifts and grantsLn 1h$306K

Investment incomeLn 3$70K

Money outPt IX

$2.8M

Ln 25

Programscol B$2.4M

Managementcol C$393K

Owns and owesPt X

$9.8M

net assets · Ln 32

Cash and savingsLn 1–2$1.5M

Total assetsLn 16$23.4M

LiabilitiesLn 26$13.6M

PeoplePt VI, VII

5

listed · VII A

PaidVII A0

Voting boardVI 1a5

IndependentVI 1b5

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$306K

Government grantsLn 1e$306K

Fees for servicesLn 2g$2.8M

Investment incomeLn 3$70K

Total revenueLn 12$3.1M

Assets in detailPt X, end of year

CashLn 1$1.5M

Cash and savings togetherLn 1–2$1.5M

InvestmentsLn 11–13$559K

Land, buildings, equipmentLn 10c$21.0M

Total assetsLn 16$23.4M

LiabilitiesLn 26$13.6M

Net assetsLn 32$9.8M

OperationsPt I, VI

EmployeesI 522

VolunteersI 66

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY20	End FY20
Cash and savingsLn 1–2	$483K	$1.5M
InvestmentsLn 11–13	$1.3M	$559K
Land, buildings, equipmentLn 10c	$21.2M	$21.0M
Total assetsLn 16	$23.4M	$23.4M
LiabilitiesLn 26	$14.0M	$13.6M
Net assetsLn 32	$9.4M	$9.8M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Other salaries and wagesLn 7	$609K	$433K	$176K
Pension plan contributionsLn 8	$31K	$21K	$10K
Other employee benefitsLn 9	$127K	$101K	$26K
Payroll taxesLn 10	$46K	$32K	$14K
Legal feesLn 11b	$21K		$21K
Office expensesLn 13	$13K	$366	$12K
OccupancyLn 16	$198K	$193K	$5K
TravelLn 17	$853		$853
InterestLn 20	$572K	$572K
Depreciation, depletion and amortizationLn 22	$679K	$679K
InsuranceLn 23	$40K		$40K
Other expenses (24a–d)Ln 24	$379K	$331K	$48K
All other expensesLn 24e	$78K	$38K	$40K
Total functional expensesLn 25	$2.8M	$2.4M	$393K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$8.8M	$4.1M	$4.7M	$17.2M	990 PDF
FY2024	$4.2M	$3.6M	$583K	$12.5M	990 PDF
FY2023	$4.8M	$3.3M	$1.5M	$11.9M	990 PDF
FY2022	$3.3M	$3.4M	−$94K	$10.4M	990 PDF
FY2021	$3.8M	$3.0M	$715K	$10.5M	990 PDF
FY2020 Viewing	$3.1M	$2.8M	$354K	$9.8M	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations

See the full FY2020 990 (6 parts)

Part I · Summary $3,146,165 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $24,738$305,977

I-9 Program service revenuePrior year $2,711,061$2,770,032

I-10 Investment incomePrior year $81,010$70,156

I-11 Other revenue$0

I-12 Total revenuePrior year $2,816,809$3,146,165

I-13 Grants and similar amounts paid$0

I-14 Benefits paid to members$0

I-15 Salaries and benefitsPrior year $788,784$813,381

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $2,103,789$1,979,073

I-18 Total expensesPrior year $2,892,573$2,792,454

I-19 Revenue less expensesPrior year −$75,764$353,711

Part VI · Governance 5 of 5 board members independent, no flags

VI-1a Voting members of the governing body5

VI-1b Independent voting members5

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $3,146,165 across 5 lines filed

VIII-1e Government grants$305,977

VIII-1h Total contributions, gifts and grants$305,977

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,719,187 · Excluded from tax $50,845$2,770,032

VIII-3 Investment incomeExcluded from tax $70,156$70,156

VIII-12 Total revenueRelated to mission $2,719,187 · Excluded from tax $121,001$3,146,165

Part IX · Statement of functional expenses $2,792,454 across 13 lines filed

IX-7 Other salaries and wagesPrograms $432,836 · Management $176,290$609,126

IX-8 Pension plan contributionsPrograms $21,232 · Management $9,950$31,182

IX-9 Other employee benefitsPrograms $100,556 · Management $26,157$126,713

IX-10 Payroll taxesPrograms $31,996 · Management $14,364$46,360

IX-11b Legal feesManagement $20,853$20,853

IX-13 Office expensesPrograms $366 · Management $12,484$12,850

IX-16 OccupancyPrograms $192,781 · Management $5,495$198,276

IX-17 TravelManagement $853$853

IX-20 InterestPrograms $571,646$571,646

IX-22 Depreciation, depletion and amortizationPrograms $678,891$678,891

IX-23 InsuranceManagement $39,579$39,579

IX-24 Other expenses (24a–d)Programs $330,779 · Management $47,828$378,607

IX-24e All other expensesPrograms $38,009 · Management $39,509$77,518

IX-25 Total functional expensesPrograms $2,399,092 · Management $393,362 · Fundraising $0$2,792,454

Part X · Balance sheet $23,431,566 assets, 13 lines filed

X-1 Cash, non-interest-bearingStart of year $482,783$1,505,928

X-3 Pledges and grants receivableStart of year $24,737$25,345

X-4 Accounts receivableStart of year $315,534$259,192

X-8 Inventories for sale or useStart of year $90,733$108,070

X-9 Prepaid expenses and deferred chargesStart of year $17,762$8,648

X-10c Land, buildings and equipment, netStart of year $21,181,060$20,965,858

X-11 Publicly traded securitiesStart of year $1,329,569$558,525

X-16 Total assetsStart of year $23,442,178$23,431,566

X-17 Accounts payable and accrued expensesStart of year $122,383$131,668

X-26 Total liabilitiesStart of year $13,996,280$13,631,957

X-27 Net assets without donor restrictionsStart of year $9,445,898$9,799,609

X-32 Total net assets or fund balancesStart of year $9,445,898$9,799,609

X-33 Total liabilities and net assetsStart of year $23,442,178$23,431,566

Part XI · Reconciliation of net assets $9,799,609 net assets at year end

XI-1 Total revenue$3,146,165

XI-2 Total expenses$2,792,454

XI-3 Revenue less expenses$353,711

XI-4 Net assets at start of year$9,445,898

XI-10 Net assets at end of year$9,799,609

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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Regional Water FY2020 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Regional Water

By the numbers

Filing history

Schedules filed Part IV